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Dr. Rasmus examines the Trump budget released this past week, which is based on a crude restatement of Supply Side economics bullshit that has had no evidence in reality since it was first introduced under Reagan in 1981. Rasmus explains why the budget’s ridiculous assumption of 3-3.5% GDP for the next decade is nonsense. How the budget double counts tax …

It has been and continues to be an interesting week for Wells Fargo, with widespread coverage from mainstream news outlets; John Stumpf, Wells Fargo’s CEO, going before Congress on September 20; and a $185 million settlement announced with the Consumer Financial Protection Bureau. Interesting, then, that despite all of the monies paid in fines to the CFPB, Wells Fargo still …

Those who have been reading my work for any length of time know I have been adamant we would someday face a “global margin call”. I believe this call was issued last week! No matter how you look at the world, whether financially, geopolitically, macro, micro or whatever …what underlies everything in our world today is “credit”. Credit is used …

Puerto Rico’s governor may have said the commonwealth’s debt is unpayable, but that doesn’t mean Puerto Ricans aren’t going to pay for it. Vulture capitalists are circling the island, ready to extract still more wealth from the impoverished island. You already know the drill: Capital is sucked out by corporate interests that pay little in taxes, budget deficits grow and …

I thought junk bonds were ‘high risk – high return’ whereas I’d have thought Chicago was more ‘high risk – no return. Not so much junk bonds, just junk. Reader comment from “Mike” It’s doubtful that Warren Buffet’s Moody’s Investor Services will face the same wrath from Obama that Obama inflicted on S&P after S&P downgraded the U.S. Government debt rating …

Last month, we documented the case of Louisiana State University, the large, well-known public institution whose 2014 enrollment totaled nearly 31,000 students. LSU, it turns out, is facing funding cuts of as much as 82% which, if realized, would likely force the school into financial exigency, the college equivalent of bankruptcy. The reason for the cuts: the sharp decline in …

Approximately $8 billion in debt securities are affecting a popular investor’s service decision about one of biotech’s biggest. Investing credit rating company Moody’s has affirmed that Monsanto’s new rating is being downgraded from ‘neutral’ to ‘negative’ following Syngenta’s announcement that it has refused Monsanto’s unsolicited bid of CHF449 per Syngenta share in a combination of cash and stock. Monsanto’s offer would have …

Despite attempts to portray the work of the “big three” as globally oriented, the rating agencies maintain a close link to the US financial institutions. The 2008 economic crisis sent their reputations reeling. Now the global market for making ratings needs to be de-monopolized and equipped with new, transparent tools for working with risk. Currently, Fitch, Standard & Poor’s, and …

by Ian Blohm, Oriental Review Despite attempts to portray the work of the “big three” as globally oriented, the rating agencies maintain a close link to the US financial institutions. The 2008 economic crisis sent their reputations reeling. Now the global market for making ratings needs to be de-monopolized and equipped with new, transparent tools for working with risk. Currently, …